Ohio Market Watch: Rise in renters looking to become owners

Ohio Market Watch: Rise in renters looking to become owners
On February 27, 2014

By Greg Stitz. OAR Director of Research

Nearly half of Ohio REALTORS in a recent survey indicated the number of renters expressing an interest in buying a home is on the rise.

In a recent survey of OAR members, 49 percent of respondents indicated they are seeing an increase in renters interest toward buying. 43 percent observe no change and 8 percent see a decrease in the level of interest expressed. This might be explained, in part, by the findings from a recent Ohio Market Watch post that showed two-thirds of respondents indicated that rents in their area have increased from a year ago. Escalating rents are known to encourage renters to consider home ownership as a healthier financial option.

Survey results are based on responses to a monthly survey, designed to capture the effects of the existing economic conditions and trends on the real estate industry, sent to a pool of 1,500 OAR participants. Click here to sign up to participate in the survey.

– See more at: http://ohiorealtors.org/2014/02/27/ohio-market-watch-rise-in-renters-looking-to-become-owners